STAFF WRITER
The Development Bank of Namibia (DBN) has been officially accredited by the Green Climate Fund (GCF) as a Direct Access Entity (DAE) under the medium-sized project category.
This was confirmed during the GCF’s 42nd Board Meeting held in Port Moresby, Papua New Guinea, from 30 June to 3 July 2025.
The Green Climate Fund is a global fund created to support the efforts of developing countries to respond to the challenge of climate change. It helps fund climate adaptation and mitigation initiatives and is a critical component of the United Nations Framework Convention on Climate Change (UNFCCC).
DBN is the first Namibian institution to gain GCF accreditation as a Direct Access Entity (DAE) for medium-scale funding, beyond entities previously accredited solely for grant funding.
The accreditation, means DBN is now eligible to design, submit, and implement climate adaptation and mitigation projects valued between N$1billion to N$5billion (USD 50 million and USD 250 million) directly accessing international climate finance without intermediaries.
Speaking on the accreditation, Jerome Mutumba, DBN’s Chief Marketing and Corporate Affairs, said the accreditation is a national breakthrough.
“As a GCF-accredited entity, we are now equipped to mobilise climate finance and unlock green investments that will advance Namibia’s climate ambitions through impactful partnerships and sustainable development initiatives,” he said.
He said DBN will now focus on strengthening its project origination and development capabilities by building a robust pipeline of climate-aligned initiatives. This includes enhancing the technical quality and readiness of concept notes to meet GCF standards and working collaboratively with public and private sector stakeholders to mobilise funding for impactful green investments across Namibia.
COMMENTS